Cost of government’s coronavirus bailouts is now set to top £130billion as the economy plunges into recession, says watchdog The government’s coronavirus bailouts are now expected to hit £132bn this year The OBR watchdog has revised up its costs from £123bn in middle of last month The UK is facing the deepest recession for 300 … Read more
Rishi Sunak draws up ’emergency budget’ for coronavirus meltdown with MILLIONS of jobs set to go as UK faces worst recession in 300 YEARS UK facing the worst recession for 300 years as coronavirus causes total chaos Chancellor Rishi Sunak is expected to unveil an emergency budget in July Government is set to borrow £300billion … Read more
Rishi Sunak is racing to build a £100bn job creation scheme amid fears two million Britons will lose their jobs when the furlough scheme ends. During the Downing St press conference the Chancellor promised to address the looming employment crisis with a scheme to create additional jobs. Mr Sunak announced that the furlough scheme, which … Read more
Firms must start paying furlough costs for staff from this August, Rishi Sunak declared tonight – but the proportion they contribute will be tapered up to 20 per cent over three months. The Chancellor stressed that the UK scheme would remain ‘among the most generous in the world’, but said businesses should start taking some of … Read more
Firms must start paying furlough costs for staff from this August, Rishi Sunak declared tonight – but the proportion they contribute will be tapered up to 20 per cent over three months. The Chancellor stressed that the UK scheme would remain ‘among the most generous in the world’, but said businesses should start taking some of … Read more
Firms must pay 20 per cent of wages for furloughed staff from August, Rishi Sunak will say today as he starts to wind down massive bailout despite fears of a wave of redundancies By James Tapsfield, Political Editor For Mailonline Published: 07:50 BST, 29 May 2020 | Updated: 07:58 BST, 29 May 2020 Firms must … Read more
Employers will have to pay a quarter of furloughed staff’s wages from August, Chancellor Rishi Sunak is expected to announce Rishi Sunak will ask businesses to pay 25 per cent of furlough money for staff Chancellor is expected to make radical announcement today or this weekend It comes as 8.4 million workers are now furloughed … Read more
One in four companies say they will be not be able to pay a fifth or more of full-time workers’ salaries between August and October and would have to lay off employees, a poll has found. Research by the Institute of Directors revealed today shows that firms are worried about being able to keep staff … Read more
Boris Johnson today vowed not to increase income tax, VAT or national insurance despite coronavirus wreaking havoc on the public finances. The PM also promised that the triple lock on state pensions – which means they rise by the highest of inflation, earnings, or 2.5 per cent – would be maintained. Standing by the pledges, … Read more
Chancellor Rishi Sunak ‘will stop firms furloughing more staff from August’ as Government looks to flexible working to get Britain ‘back up and running’ Chancellor Rishi Sunak expected to announces changes to job retention scheme Firms could be banned from furloughing anymore workers at end of July Companies also expected to pay NI contributions and … Read more
Rishi Sunak ‘working on Project Birch business bailout which could see Government act as lender of “last resort” to stop key British firms from going under because of coronavirus’ Chancellor Rishi Sunak is apparently drawing up plans to save important firms Could see tailored bailouts where ‘viable companies have exhausted all options’ Government could act … Read more
Cabinet tensions over lockdown as Rishi Sunak tells Tory MPs Italy and Greece are ‘opening up’ economies and UK must not ‘be the only country where you can’t go to the pub’ Rishi Sunak thought to be among most hawkish ministers on lifting lockdown Told Tory MPs UK must not be ‘only country in world … Read more
Employers will have to pay 25 per cent of their furloughed staff’s wages from August under plans set to be announced by Chancellor Rishi Sunak. Mr Sunak last week extended the government’s coronavirus furlough scheme – in which the government covers 80 per cent of wages of workers’ wages up to a ceiling of £2,500 … Read more